How To Start an eCommerce Business For Beginners (In 2024)

hey guys michila here and in this video we're talking about how to start an e-commerce business and more importantly how beginners can earn $100 to $700 per day hey guys how's it going Mike fa here welcome to this video before we actually begin to remind you the trouble spots have opened up for this week's free Workshop where it's the fastest and easiest way to make money online sign up forward in the link below so I got into e-commerce because I wanted to find a way to create freedom for myself I heard all these people making money online and I just thought okay well if a lot of people are buying from Amazon maybe they could also buy physical products for me the only problem was was I didn't know where to get started I was overwhelmed I was confused and I just did not know what I know now and that's exactly what I want to share with you are just lessons on learning what happen when you model billion dollar businesses like gym shark so the first step is let's actually take an example of what worked so well with gym shark if you don't know what gym shark is is it is one of the biggest Fitness Brands right now that started off as a very tiny very small e-commerce business and it's actually very good to understand how they were able to worth $1.45 billion when they first started started off which is two kids and just like a couple hundred bucks right that's the coolest thing about e-commerce is if you do it the right way kind of like modeling what happened to them then you don't have to do a lot of risk up front and actually hit your financial goals later on so what they did back in the day before they worth 1.45 billion is they first started off very simply right they started off as a simple Drop Shipping site now the first step is literally figure out what people actually want and the Drop Shipping business model works really really well with that they create cre a simple shopy website which is like 5 minutes to go and create your own e-commerce store and they have all these done for you templates so you don't have to be a designer you don't have to have any Tech skills you can literally have your own e-commerce site done within 5 minutes the most important part is really number two and that is finding the right product that is actually going to sell so of course starting an e-commerce business can be very expensive when done the wrong way like I remember starting my own e-commerce business and I thought dog leashes were going to do really well right so I literally bought thousand thousands of dollars worth of dog leashes and guess what no one was able to sell right and exact same thing with this imagine how hard it is when you need to get like different sizes of shorts or different colors or different genders or different lengths there's so much different variations that you would literally need thousands of dollars to get started um with an e-commerce business right but if you do the Drop Shipping model it's a lot easier for market research so for example how it works is you have your own little website right here you could put it on shopy and then what happens is a customer will come to your store they're like wow this store is amazing I want to go buy you know this t-shirt right I wanted in this color and this size right and just like that they're like oh we have it in stock but you take the $200 for this t-shirt and you go and buy the t-shirt from the supplier for like 150 bucks the supplier then ships it to the customer and then you get $50 profit that's essentially what Drop Shipping is is you are literally the middleman and you just just take the money of the customer and you just get it from the supplier at a cheaper rate now this is literally what jym shark did okay back in the day they had their e-commerce store and they would put a bunch of designs of t-shirts and supplements and whatnot on their on their store until they would actually find products that were able to sell the moment they were able to find products that sold they're like oh wow we're getting all these colors and all these sizes and all of these um variations maybe that's what we're going to order from bulk from China so if you think about it let's look at this Fitness shirt you can see it's kind of like the exact same thing as gym shark right what they would do is they would literally put like pictures of products that they didn't own on their website when they got a sale they would find out what exactly people are buying you know they would find the variation the color the sizes um like the gender who are buying more of it right and then they would just start drop shiing the products now they wouldn't do this forever they just did this to get market research because it is the most cost effective way to figure out just who the hell people are buying from right if you were going to go to China and buy like a 100 different units of wh and all different sizes right you would literally need thousands of dollars to actually go ahead and get started but when you do this your only overhead cost is literally the cost of like 29 bucks for the Shopify e-commerce store and then you got to find out exactly where people are actually going ahead and buying this and you don't just need to use AliExpress you could use eBay as well now the moment you actually uh start making sales and the next question is like well Mike how can I go ahead and make sales well it's pretty simple okay what jym shark did is they would take their products and they would partner with influencers and the cool thing about uh Shopify is they give you a promo code right so when you give these promo codes to all these influencers and these influencers like oh if you want to buy from XYZ company or gymshark.com we will give you 10% off if you use my promo code the cool thing is the customer gets a 10% discount but the e-commerce store owner will see exactly who are their top influencers that are making them the most money right so you can literally come in here to um you know YouTube and Just For example let's say for the sake of the argument we're selling to cat people right uh I could literally drop ship or sell physical products to all these people that like cats and get someone like Mia Stone who only has 3,000 subscribers but literally half a million views to make videos above my C products this person is not making any money right I can Lally go up to me and be like hey I'm going to give you a promo code and if you make a sale through this I will give you 50% of all the profits that go through your thing all you got to do Mia is make a bunch of more cat videos that you enjoy doing think about how much free marketing that is all you did was create an e-commerce store and give them that promo code and now they're able to make money which makes them even more excited the moment you do that that's when you start getting things in bulk from China branding it uh you're starting to know exactly what products people want you can even 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